Industrial distributor HD Supply (HDS) reported better-than-expected second-quarter earnings early Wednesday, with sales growth accelerating for a sixth straight quarter. HD Supply stock flirted with a record high in the premarket, but fell after the open.
XHD Supply Earnings
Estimates: HD Supply earnings per share were seen increasing 50% to 96 cents according to Zacks Investment Research. Revenue was seen swelling 17% to $1.58 billion.
Results: HD Supply earnings swelled to 99 cents a share. Revenue rose 18% to $1.6 billion. Organic revenue growth was 10.1%.
Outlook: The company said August sales rose nearly 18% to $513 million. HD Supply sees Q3 adjusted EPS of 95 cents to $1, with sales of $1.56 billion to $1.61 billion. Analysts expected EPS of 97 cents on sales of $1.576 billion. For the full year, HD Suply forecast revenue of $5.9 billion to $6 billion with EPS of $3.22-$3.35, also in line with consensus.
HD Supply Stock
Shares closed down 1.8% at 44.18 on the stock market today, after flirting with their recent record high before the open. Among other industrial suppliers, W.W. Grainger (GWW) dipped 0.1%, while MSC Industrial (MSM) rose 1.4% and Fastenal (FAST) and edged up 0.1%.
HD Supply has marched steadily higher since a May breakout and are above buying range.
Back in June HD Supply reported better-than-expected Q1 earnings and sales. It also gave guidance that was in line to slightly above analyst consensus.
For the full year, management said it expects revenue of $5.82 billion to $.5.94 billion and EPS of $3.11-$3.27, with a midpoint of $3.185.
HD Supply has impressive fundamentals, which are reflected in its very good, but not ideal, IBD Composite Rating of 94. In addition the stock's EPS Rating of 98 is excellent, and it holds first place in the Retail/Wholesale-Building Products Industry Group.
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The post HD Supply Earnings Top, Sales Growth Accelerates For Sixth Quarter appeared first on Investor's Business Daily.
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